Expansions, layoffs, funding, leadership moves, and policy shifts — with our take on what it means for hiring in India, today and over the next five years.
The Indian government is considering amendments to the Payment and Settlement Systems Act that could allow a Merchant Discount Rate on UPI transactions above Rs 2,000, particularly targeting large merchants. The move is framed as a way to fund payment infrastructure development and strengthen cybersecurity. Everyday small-value transactions are largely expected to stay free under the proposed framework.
India's Income Tax Appellate Tribunal has ruled that gains earned when a company buys back unexercised but vested stock options should be treated as long-term capital gains rather than salary income. The case centred on a Flipkart employee who received ₹2.33 crore through such a transaction. This distinction significantly changes the tax liability for employees holding ESOPs in similar situations.
The Reserve Bank of India has held its benchmark repo rate at 6.5%, maintaining a neutral policy stance as it watches inflation, monsoon patterns, and global trade risks. Industry voices say the decision preserves affordability for homebuyers heading into the festive quarter. Stable borrowing costs are expected to keep housing demand on an even keel through the remainder of 2024.
The Reserve Bank of India has announced plans to resume issuing licences for urban cooperative banks, a process that had been stalled for years. Alongside this, the central bank is planning a thorough overhaul of credit monitoring norms for rural cooperative banks and intends to standardise lending rate frameworks across all entities it regulates, with the stated goals of improving transparency and protecting consumers.
The Reserve Bank of India has announced plans to resume issuing licences for urban cooperative banks, ending a halt that has lasted more than twenty years. The RBI has released draft guidelines to govern the restart of this process, responding to stakeholder feedback on an earlier discussion paper. The move signals a significant shift in the regulatory landscape for the cooperative banking sector.
Diageo India's United Spirits has filed a petition in the Bombay High Court challenging a regulatory directive from FSSAI targeting flavouring and labelling practices in the Indian Made Foreign Liquor segment. The move signals a widening enforcement push by the food safety regulator that is now drawing legal pushback from major players. The dispute puts the entire IMFL industry on notice as compliance requirements potentially tighten.
OpenAI has agreed to pay $3.2 million to settle a US government investigation into alleged violations related to hiring foreign workers. The probe examined whether the company followed proper legal procedures when bringing international employees on board. This settlement highlights the intensifying scrutiny American authorities are placing on how tech firms recruit and retain non-US talent.
India's government is set to make vehicle-to-vehicle (V2V) communication technology compulsory for new vehicles, with a phased rollout beginning October 2028. The system will enable cars to exchange real-time data on speed and braking to reduce road accidents. This mandate will also work alongside Advanced Driver Assistance Systems already entering the Indian market.
India's Central Vigilance Commission has directed public sector banks and financial institutions to urgently address gaps in credit appraisal and monitoring skills among their staff, identifying these gaps as a root cause of banking frauds. As part of a broader preventive vigilance drive, banks have been asked to roll out structured training programmes and submit compliance reports by the end of November. The directive signals a regulatory push toward building stronger internal competencies across the banking sector.
India is considering reintroducing merchant discount rates on UPI transactions, targeting large merchants or high-value payments under proposed changes to the Payment and Settlement Systems Act. No final decision has been made, but the move could generate a revenue pool of ₹5,000–10,000 crore for payment companies. This would mark a significant policy reversal after MDR on UPI was scrapped in 2020.
The central government has directed state drug regulators to step up surveillance on how GLP-1 weight-loss and diabetes drugs are being promoted, citing concerns over surrogate advertising. Manufacturers have received advisories clarifying approved uses, and advertising platforms are now under watch for non-compliant promotions. Regulators have also been asked to monitor supply chains to prevent diversion of these drugs.
India's mandatory push toward E20 petrol — a blend containing 20% ethanol — is facing significant public backlash, with motorists worried about engine damage and lower fuel efficiency. The government maintains that efficiency losses are minor and widespread engine failures are not occurring, while automakers broadly back the policy based on their own testing. Critics are nonetheless calling for consumer choice and a slower, more transparent rollout.